Ferguson Wellman Capital Management Inc. Cuts Holdings in Biogen Inc (BIIB)

Ferguson Wellman Capital Management Inc. lowered its position in Biogen Inc (NASDAQ:BIIB) by 92.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,420 shares of the biotechnology company’s stock after selling 40,864 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Biogen were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. Capital World Investors boosted its stake in Biogen by 503.2% in the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after buying an additional 2,063,598 shares in the last quarter. Mainstay Capital Management LLC ADV boosted its stake in shares of Biogen by 21,407.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock valued at $2,537,000 after purchasing an additional 662,120 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Biogen during the third quarter valued at approximately $218,735,000. Renaissance Technologies LLC boosted its stake in shares of Biogen by 163.2% during the third quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock valued at $298,927,000 after purchasing an additional 524,575 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Biogen by 32.1% during the third quarter. American Century Companies Inc. now owns 1,507,871 shares of the biotechnology company’s stock valued at $532,746,000 after purchasing an additional 366,361 shares during the period. 86.77% of the stock is owned by institutional investors and hedge funds.

BIIB has been the subject of several recent research reports. ValuEngine lowered Biogen from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Raymond James reaffirmed a “buy” rating on shares of Biogen in a research report on Wednesday, October 3rd. BidaskClub lowered Biogen from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $400.00 price target on shares of Biogen in a research report on Wednesday, December 12th. Finally, Oppenheimer set a $380.00 price target on Biogen and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Eight investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $381.86.

Biogen stock opened at $338.34 on Friday. The stock has a market cap of $66.90 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.21 and a beta of 0.99. Biogen Inc has a 52-week low of $249.17 and a 52-week high of $388.67. The company has a quick ratio of 2.46, a current ratio of 2.75 and a debt-to-equity ratio of 0.43.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.31 EPS. On average, sell-side analysts expect that Biogen Inc will post 25.83 earnings per share for the current fiscal year.

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About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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